Bill Text: HI SB2348 | 2012 | Regular Session | Introduced
Bill Title: State Educational Facilities Improvement Special Fund
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2012-03-08 - (H) Referred to EDN, FIN, referral sheet 41 [SB2348 Detail]
Download: Hawaii-2012-SB2348-Introduced.html
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THE SENATE |
S.B. NO. |
2348 |
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TWENTY-SIXTH LEGISLATURE, 2012 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to the state educational facilities improvement special fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 37D-2, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) There
is hereby established and authorized the financing agreement program of the
State. Any agency desiring to acquire or improve projects through the financing
agreement program established and authorized by this chapter shall submit a
written request to the department providing any information that the department
shall require. Notwithstanding any other law to the contrary, and except for
the Hawaii health systems corporation and its regional system boards, only with
the approval by the attorney general as to form and legality and upon the
written request of one or more agencies may the department enter into a
financing agreement in accordance with this chapter, and only with the approval
by the attorney general as to form and legality, and by the director as to
fiscal responsibility, and upon the written
request of an agency, the agency may enter into a
financing agreement in accordance with this chapter[, except
that the department of education may enter into a financing agreement in
accordance with section 36-32 with the concurrence of the director and with the
approval of the attorney general as to form and legality]; and that the
board of regents of the University of Hawaii may enter into a financing
agreement in accordance with this chapter without the approval of the director
and of the attorney general as to form and legality if the principal amount of
the financing agreement does not exceed $3,000,000. A financing agreement may
be entered into by the department on behalf of one or more agencies, or by an
agency, at any time (before or after commencement or completion of any
improvements or acquisitions to be financed) and shall be upon terms and conditions
the department finds to be advantageous. In each case of a written request by
the judiciary to participate in the financing agreement program, the department
shall implement the request; provided that the related financing agreement
shall be upon terms and conditions the department finds to be advantageous.
Any financing agreement entered into by the department without the approval, or
by an agency without the approvals required by this section shall be void and
of no effect. A single financing agreement entered into by the department may
finance a single item or multiple items of property to be used by multiple
agencies or may finance a single item or multiple items of property to be used
by a single agency. If the financing agreement is by the department, the
department shall bill any agency that benefits from property acquired with the
proceeds of a financing agreement for the agency's pro rata share of:
(1) The department's costs of administration of the financing agreement program; and
(2) The financing costs, including the principal and interest components of the financing agreement and insurance premiums,
on a monthly or other periodic basis, and may deposit payments received in connection with the billings with a trustee as security for the financing agreement. Any agency receiving such a bill shall be authorized and shall pay the amounts billed from available moneys.
If a financing agreement is by an agency, the agency shall deposit on a monthly or other periodic basis with the department, payments from available moneys with respect to the agency's financing costs, including the principal and interest components of the financing agreement and insurance premiums, which payments the department may deposit with a trustee as security for the financing agreement. The department may bill an agency for the department's costs of administering the agency's payments and the agency receiving such a bill shall be authorized to and shall pay the amounts billed from available moneys."
SECTION 2. Section 36-32, Hawaii Revised Statutes, is repealed.
["§36-32 State educational
facilities improvement special fund. (a) There is created in the
treasury of the State the state educational facilities improvement special
fund, into which shall be deposited a portion of all general excise tax
revenues collected by the department of taxation under section 237-31. The
special fund shall be used solely to plan, design, acquire lands for, and to
construct public school facilities and to provide equipment and technology
infrastructure to improve public schools and other facilities under the
jurisdiction of the department of education, except public libraries. In
addition, activities of the department of education intended to eliminate the
gap between the facility needs of schools and available resources shall be
eligible for funding from the special fund. Expenditures from the special fund
shall be limited to projects authorized by the legislature and shall be subject
to sections 37-31, and 37-33 through 37-40. Appropriations or authorizations
from the special fund shall be expended by the superintendent of education.
(b) There is established within the state
educational facilities improvement special fund a separate account, to be known
as the lease payments for schools account, for lease payments required by
financing agreements entered into by the department of education pursuant to
this section and sections 37D-2 and 302A-1506. The lease payments for schools
account shall be funded by legislative appropriations and expended by the
superintendent of education. Expenditures from the lease payments for schools
account shall be exempt from chapters 103 and 103D and are restricted to lease
payments on new schools included within the department of education's current
six year capital improvement programs and for which:
(1) The legislature adopted a concurrent
resolution directing the department of education to:
(A) Build a new
school in a specific geographic area using the design-build method; and
(B) Pursue the use of a financing
agreement to build the new school; or
(2) The legislature appropriated planning
and design funds and specified that the remainder of the costs necessary to
complete the project are eligible for funding through a financing agreement;
provided that any school to which the legislature
has appropriated planning and design funds prior to July 1, 2007 and for which
a private developer is willing to enter into a lease-purchase agreement with
the department of education within twelve months of July 1, 2007 is exempt from
the requirements of [paragraphs] (1) and (2).
(c) The department of education shall
submit an annual report to the legislature that shall include a financial
statement of the special fund, the lease payments for schools account
established under subsection (b), and the status of projects undertaken
pursuant to this section, no later than twenty days prior to the convening of
each regular session."]
SECTION 3. Statutory material to be repealed is bracketed and stricken.
SECTION 4. This Act shall take effect on July 1, 2013; provided that any funds remaining in the state educational facilities improvement special fund or the lease payment for schools account shall lapse to the general fund on July 1, 2014.
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INTRODUCED BY: |
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Report Title:
State Educational Facilities Improvement Special Fund; Repeal
Description:
Repeals the state educational facilities improvement special fund. Remaining funds lapse to the general fund.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
